Six additional CSDs join T2S
Today, Monday 6 February T2S wave 4 successfully migrated to T2S bringing the total number of CSDs settling securities on T2S to 18. The successful migration brings the total T2S transaction volume to 85 per cent.
It was a significant weekend for the T2S community. Six CSDs from six different countries successfully connected to the pan-European settlement platform. With wave 4 on board, T2S is now processing about 85 per cent of the total transaction volume expected after the end of full migration.
The fifth and final wave of the original participants are migrating to T2S in September 2017. Euroclear Finland has announced that they will not be able to meet the deadline. The remaining CSDs in the final wave will proceed as planned. See the T2S migration plan from the European Central Bank here.
VP SECURITIES will be ready with T2S services in DKK in October 2018. Hence, DKK will be the first non-EUR on T2S, which is designed as a multi-currency settlement platform.